Sumitomo Mitsui Asset Management Company LTD trimmed its holdings in Cornerstone OnDemand, Inc. (NASDAQ:CSOD) by 57.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,895 shares of the software maker’s stock after selling 123,795 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Cornerstone OnDemand were worth $5,034,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CSOD. Raymond James & Associates grew its position in Cornerstone OnDemand by 0.8% in the 1st quarter. Raymond James & Associates now owns 26,060 shares of the software maker’s stock valued at $1,428,000 after buying an additional 212 shares during the last quarter. Legal & General Group Plc grew its position in Cornerstone OnDemand by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 18,455 shares of the software maker’s stock valued at $1,047,000 after buying an additional 250 shares during the last quarter. Greenwood Capital Associates LLC grew its position in Cornerstone OnDemand by 9.2% in the 1st quarter. Greenwood Capital Associates LLC now owns 5,614 shares of the software maker’s stock valued at $308,000 after buying an additional 472 shares during the last quarter. Advisor Group Inc. grew its position in Cornerstone OnDemand by 164.0% in the 4th quarter. Advisor Group Inc. now owns 850 shares of the software maker’s stock valued at $43,000 after buying an additional 528 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Cornerstone OnDemand by 245.0% in the 4th quarter. IFP Advisors Inc now owns 1,080 shares of the software maker’s stock valued at $54,000 after buying an additional 767 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Harold W. Burlingame sold 1,553 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $57.03, for a total value of $88,567.59. Following the sale, the director now directly owns 53,327 shares in the company, valued at approximately $3,041,238.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam L. Miller sold 21,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $57.33, for a total transaction of $1,203,930.00. Following the completion of the sale, the chief executive officer now owns 2,404,434 shares in the company, valued at $137,846,201.22. The disclosure for this sale can be found here. Insiders have sold a total of 145,342 shares of company stock worth $7,969,532 over the last 90 days. Insiders own 9.40% of the company’s stock.
Cornerstone OnDemand (NASDAQ:CSOD) last issued its earnings results on Tuesday, May 7th. The software maker reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.23). The company had revenue of $140.10 million for the quarter, compared to analysts’ expectations of $135.51 million. Cornerstone OnDemand had a negative return on equity of 15.15% and a negative net margin of 3.87%. Cornerstone OnDemand’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, sell-side analysts forecast that Cornerstone OnDemand, Inc. will post -0.07 earnings per share for the current fiscal year.
A number of research firms recently weighed in on CSOD. BidaskClub upgraded shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Cornerstone OnDemand from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research lowered shares of Cornerstone OnDemand from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Goldman Sachs Group began coverage on shares of Cornerstone OnDemand in a research report on Friday, February 1st. They issued a “neutral” rating and a $56.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “strong-buy” rating and issued a $70.00 price objective (up from $60.00) on shares of Cornerstone OnDemand in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Cornerstone OnDemand currently has a consensus rating of “Buy” and an average target price of $62.36.
Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc, together with its subsidiaries, provides learning and human capital management software through software-as-a-service model worldwide. Its enterprise human capital management platform comprises four product suites, such as Recruiting Suite that helps organizations to attract, hire, and onboard the right employees; Learning Suite, which provides robust, a modern learning management software to supports compliance, knowledge sharing, and employee-driven development training; Performance Suite that provides tools to manage goal setting, performance reviews, competency assessments, development plans, continuous feedback, compensation management, and succession planning; and HR Administration Suite, which provides an aggregated view of all employee data with workforce planning, self-service management, and compliance reporting capabilities.
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